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flag UN conference in Seville addresses $1.4 trillion annual debt crisis in developing nations, proposes reforms.

flag The UN held a conference in Seville with over 100 nations to address the growing debt crisis in developing countries, where the debt has tripled in 15 years, reaching $1.4 trillion annually. flag UN chief Antonio Guterres called for fixing the global debt system, highlighting unfair interest rates and proposing measures like temporary debt suspension during crises and increased transparency in debt data. flag However, implementing these reforms faces challenges due to donor countries' own debt issues and lack of full commitment.

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